United States: Dead Rules Walking: The SEC Removes Two Zombie Rules
By: Thoreau Bartmann and Marguerite Laurent
Key Takeaways
On 4 August 2026 the SEC deleted two long dead requirements from its rulebook. SEC.gov | Investment Company Governance Technical Amendments. Specifically, the SEC deleted a requirement that 75% of a fund board be independent and that the board chair be independent, both provisions that had been struck down by a court in 2006, yet were still in the rulebook twenty years later.
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